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in fact, when you do those sorts of tax cuts there are costs to those tax cuts. the big etan drivegest driver r deficit -- >> chris: if i may, sir. you are talking about half of the planet it would be like talking about obama's jobs plans and saying the entire are plan is to give more money to teachers. it is not obama's plan. similarly you are mischaracterizing the romney plan. saying you're right there is $5 trillion lowering the tax rates but he talks about cutting loopholes. but that is part of the plan. >> but he won't say, chris, which loopholes and which deductions. senator, i doubt seriously you would be if favor of doing away or cutting the home mortgage deduction for middle class americans. governor romney has not said what the plan is for paying for the $5 trillion in tax cuts just like he won't talk about what his tax returns have been or -- >> with all due reis spect, governor, first of all, governor romney made is clear in the debate and he was actually able to speak directly to the american people that he is not going to lower the burdening on up y
in fact, when you do those sorts of tax cuts there are costs to those tax cuts. the big etan drivegest driver r deficit -- >> chris: if i may, sir. you are talking about half of the planet it would be like talking about obama's jobs plans and saying the entire are plan is to give more money to teachers. it is not obama's plan. similarly you are mischaracterizing the romney plan. saying you're right there is $5 trillion lowering the tax rates but he talks about cutting loopholes. but that...
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tax cuts. a guy who says we shouldn't be having mission creep in libya but wants mission creep in syria. he's been on all sides of the issues. >> that's just in the last week. >> the president needs to just say these things, it's not obvious to people watching on tv. when you're in a debate it's helpful to talk about it at that time rather than in the rallies afterwards. the jobs question is very interesting. he's trying to convince people in ohio where the unemployment rate is lower than the national average, which already is coming down -- >> in a place where the president's plan to save the auto industry actually protected many jobs. >> so in the face of all the evidence around them, and you can argue about economic statistics as much as you like, but people know their own economy and their own lives. he's trying to put against that by saying there are joshs in the ground we will dig up presumagely by pulling away from environmental regulations. he's talking really about fracking. that's his
tax cuts. a guy who says we shouldn't be having mission creep in libya but wants mission creep in syria. he's been on all sides of the issues. >> that's just in the last week. >> the president needs to just say these things, it's not obvious to people watching on tv. when you're in a debate it's helpful to talk about it at that time rather than in the rallies afterwards. the jobs question is very interesting. he's trying to convince people in ohio where the unemployment rate is...
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Oct 12, 2012
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we need to have tax reform, but we need tax reform that raises enough revenue to lower tax rates and also goes to reducing future budget deficit because if we don't get the deficits down, lower tax rates aren't going help us. >> and doug, do you think it's fair to say, romney ryan have been saying they think a 3% growth is reasonable. do you think it is? because for in of this math to work out and this whole argument everybody's having about whether they can cut taxes and close enough loopholes, they are counting on economic growth on being part of making up that difference. will it? >> you can't say for sure because good tax policy does t matter. t not the only thing going on out there and you would have to have a displn palestinianed, economic policy. we have a serious threat to the economy from existed and projected debt. it is different from the era of reagan in that debt is not being driven by annual decisions made by congress, which are easy to change. if you want to have a successful road package, you can't just -- you have to pair it with entitlement reform. one more thing. l
we need to have tax reform, but we need tax reform that raises enough revenue to lower tax rates and also goes to reducing future budget deficit because if we don't get the deficits down, lower tax rates aren't going help us. >> and doug, do you think it's fair to say, romney ryan have been saying they think a 3% growth is reasonable. do you think it is? because for in of this math to work out and this whole argument everybody's having about whether they can cut taxes and close enough...
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about taxing the wealthy, and he's talking about taxing planes. i own a plane. >> that's you. >> i was like, oh, okay. thanks a lot, president obama. you can see. ds like whole roasted nuts, chewy granola, and real fruit. nature valley trail mix bars. 100% natural. 100% delicious. 100% natural. it's hard to see opportunity in today's challenging environment. unless you have the right perspective. bny mellon wealth management has the vision and experience to look beyond the obvious. we'll uncover opportunities, find hidden risk, and make success a reality. bny mellon wealth management everyone in the nicu, all the nurses wanted to watch him when he was there 118 days. everything that you thought was important to you changes in light of having a child that needs you every moment. i wouldn't trade him for the world. who matters most to you says the most about you. massmutual is owned by our policyholders so they matter most to us. if you're caring for a child with special needs, our innovative special care program offers strategies that can help. >>>
about taxing the wealthy, and he's talking about taxing planes. i own a plane. >> that's you. >> i was like, oh, okay. thanks a lot, president obama. you can see. ds like whole roasted nuts, chewy granola, and real fruit. nature valley trail mix bars. 100% natural. 100% delicious. 100% natural. it's hard to see opportunity in today's challenging environment. unless you have the right perspective. bny mellon wealth management has the vision and experience to look beyond the obvious....
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how in lord's name can they justify raising their taxes with these tax cuts? >> two questions, is there more pressure on the vice president now to be aggressive coming off the president's debate, and are you worried about gaffes like that? >> well, look, i don't think that was a gaffe, george. i think what the vice president was talking about is what he's talked about every day, which is a series of eight years of -- >> he said they were buried the last four years. >> well, we've been digging out for what was an avalanche of bad economic decisions over the past eight years during the bush administration, and what mitt romney and paul ryan want to do is take us back to that exact same failed economic theory, talk down tax cuts, eviscerating the investments we know we need to grow our economy from the middle out rather than from the top down. look, i know vice president biden. i know he's looking forward to having a spirited exchange about ideas. i simply hope this, i hope what paul ryan does is something fundamentally different than what mitt romney does, and t
how in lord's name can they justify raising their taxes with these tax cuts? >> two questions, is there more pressure on the vice president now to be aggressive coming off the president's debate, and are you worried about gaffes like that? >> well, look, i don't think that was a gaffe, george. i think what the vice president was talking about is what he's talked about every day, which is a series of eight years of -- >> he said they were buried the last four years. >>...
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Oct 14, 2012
10/12
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pledge and no new taxes. does that fit your bill? by the way, i'm not actually promising you a tax cut. it might just come out even. >> the only confusion is people don't -- >> that's fine with you. sorry. >> he wants to reduce marginal tax rates across the board for all americans, 20%, which is what reagan did, which is what john f. kennedy did. he also wants to do what reagan did in 1986, which is to have it end towards revenue neutrality and job creation as reagan and kennedy gave you, and eliminating some deductions and credits, all the tax credits that have funneled money to the administration's friends, not help the economy. let's get rid of those kind of corrupt deductions and credits and raise some money at the same time, but net, it's going to be a revenue-neutral at worst or a tax cut. >> part of what happened in the first debate, i think, and this will run back into the tax issue, is that people saw mitt romney and some thought, oh, he is not this scary person we've seen in the ads. he seemed reaso
pledge and no new taxes. does that fit your bill? by the way, i'm not actually promising you a tax cut. it might just come out even. >> the only confusion is people don't -- >> that's fine with you. sorry. >> he wants to reduce marginal tax rates across the board for all americans, 20%, which is what reagan did, which is what john f. kennedy did. he also wants to do what reagan did in 1986, which is to have it end towards revenue neutrality and job creation as reagan and...
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Oct 13, 2012
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lying about the cost of your tax plan, you're proposed tax reforms. so far you haven't released a lot of specifics about eliminating various loopholes or you've said your tax cuts would be revenue neutral you wouldn't add to the deficit. let's go through how you would do that. specifically home mortgage deductions, charitable mortgage contributions. are you ready to remove those? what's going on? >> well, i've made pretty clear that my prirnls are number one simplify the code. number two, create incentives for small and large businesses to grow. number three, don't reduce the burden on high income taxpayers. and number four, remove the burden somewhat for middle income people. i don't want to raise taxes on any group of americans. those are the principles. at the same time how we carry them out would be lowering the tax rate across the board and making up for that, both with additional growth and with putting a limit on deductions and exemptions, particularly for people at the high end. those are principles which form the bases of what i would do with
lying about the cost of your tax plan, you're proposed tax reforms. so far you haven't released a lot of specifics about eliminating various loopholes or you've said your tax cuts would be revenue neutral you wouldn't add to the deficit. let's go through how you would do that. specifically home mortgage deductions, charitable mortgage contributions. are you ready to remove those? what's going on? >> well, i've made pretty clear that my prirnls are number one simplify the code. number two,...
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be a tax attached to it. they want a carbon tax that will tax american airplanes landing in europe based on their carbon emissions. what we're looking at here is a global system of taxation. will obama raise taxes? yeah, but not just through congress. it will be done by treaties in the u.n. that can be ratified by the senate and the house of representatives has nothing to do with it. that's one of the major things we warn about in this book heree come the black helicopters." >> sean: that's pretty frightening. it's in bookstores as of tomorrow morning, amazon.com, called "black helicopters." dick, thank you. >> thank you. >> sean: when we come back, is there a major donor scandal about to blow up in the president's face? our guests say they have things that could derail the president before election day. and in the middle east, this time the israelis take out a drone. the middle east burning. this all happens as mitt romney goes out with a major foreign policy speech telling voters that the president has fail
be a tax attached to it. they want a carbon tax that will tax american airplanes landing in europe based on their carbon emissions. what we're looking at here is a global system of taxation. will obama raise taxes? yeah, but not just through congress. it will be done by treaties in the u.n. that can be ratified by the senate and the house of representatives has nothing to do with it. that's one of the major things we warn about in this book heree come the black helicopters." >> sean:...
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they pay more effective tax than governor romney pays in his federal income tax. >> indeed. biden's performance was so impressive, the other party was forced to admit that they had taken a hiding. with even mitt romney singing joe's praises today in virginia. >> i think you might agree with me that there was one person on stage last night who was thoughtful and respectful, steady, and poised, the kind of person you want to turn to in a crisis. >> no, no, that can't be right. there must be more to it than that. >> and that was the next vice president of the united states, paul ryan. >> right. he was talking about this guy. >> he talks about detroit. mitt romney is a car guy. >> good one. sell that salesman at the top of the ticket and drives a couple cad laks. but bill clinton today, well, he was a bit incredulous about that line at an event in indiana. >> mr. ryan said last night that governor romney was a car guy. i thought, well, if having an elevator to stack them counts, i guess he was. >> now president clinton, don't you go down that line that mr. romney is just a pluto
they pay more effective tax than governor romney pays in his federal income tax. >> indeed. biden's performance was so impressive, the other party was forced to admit that they had taken a hiding. with even mitt romney singing joe's praises today in virginia. >> i think you might agree with me that there was one person on stage last night who was thoughtful and respectful, steady, and poised, the kind of person you want to turn to in a crisis. >> no, no, that can't be right....
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as far as the tax plan, look, he has said he will not pass a tax plan that is not deficit neutral. he's been very clear about this. his principles are do not change or modify the share of taxes paid at the upper income level, reduce the tax burden on the middle income level, cut rates across the board, particularly so you can create a more welcoming environment for small businesses, reduce the tax burden on small businesses, which are responsible for a disproportionate percentage of employment in this country, and you can do a lot of this by generating growth, getting rid of deductions, getting rid of a lot of the credits, getting rid of a lot of the loopholes and that is the plan he will put forward to congress. >> here's the thing. dan, here's the thing. nobody disputes that he intends to do some of this. what we don't know is how he intends to do it, and the specifics and until we get that, i think barack obama is perfectly entitled at the next two debates to take him on it, say hang on, you're cutting taxes by $5 trillion but what are you actually going to do to make up the $5
as far as the tax plan, look, he has said he will not pass a tax plan that is not deficit neutral. he's been very clear about this. his principles are do not change or modify the share of taxes paid at the upper income level, reduce the tax burden on the middle income level, cut rates across the board, particularly so you can create a more welcoming environment for small businesses, reduce the tax burden on small businesses, which are responsible for a disproportionate percentage of employment...
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and we need to have tax reform, and we have to have tax reform that raises enough revenue to lower tax rates and go to reducing future budget deficits. if we don't get budget deficits down, lower tax rates won't help us get the economy going. >> do you think it's fair to say -- romney/ryan say a 3% growth is reasonable. do you think it is. for any of this math to work out. the argument of whether they can cut taxes and close loopholes, they are counting on economic growth to be part of making up that difference. will it? >> you can't say for sure. good tack policy matters. not the only thing that matters, and you have to have disciplined economic policy. we have a serious threat to the economy from existing and projected debt, it's different from the era of ronald reagan, that debt is not being driven by annual decisions, it's being driven by large, entitlement spending programs. you can't just do it with taxes, you have to pair it with real aggressive entitlement reform. honestly, one more thing. little changes matter. and people don't appreciate it. first 200 years of u.s. existence,
and we need to have tax reform, and we have to have tax reform that raises enough revenue to lower tax rates and go to reducing future budget deficits. if we don't get budget deficits down, lower tax rates won't help us get the economy going. >> do you think it's fair to say -- romney/ryan say a 3% growth is reasonable. do you think it is. for any of this math to work out. the argument of whether they can cut taxes and close loopholes, they are counting on economic growth to be part of...
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because 47%, he said didn't pay income taxes. but many of those people pay payroll taxes. many of those are young people, old people, after all, many of the older people may not be paying income taxes now but they paid their social security contributions. and now they're getting back what they paid for. so to say that they were freeloaders was really denigrating a lifetime of work that they had contributed to. >> rose: where is the federal reserve in all of this? >> the federal reserve obviously wasn't doing what it should have done in the years before the crisis. >> it was paying too much attention to interest rates and not enough attention to employment. >> that was one of the problems. it was not paying enough attention to what the banks were doing. one of the members of the fed actually talked about it. there is a housing bubble going on there is predatory lending going on. you should stop this because if you don't you're going to have a problem. >> greenspan and the rest of the board ignored it. and so that lead to the housing bubble. and predatory lending. the fed ha
because 47%, he said didn't pay income taxes. but many of those people pay payroll taxes. many of those are young people, old people, after all, many of the older people may not be paying income taxes now but they paid their social security contributions. and now they're getting back what they paid for. so to say that they were freeloaders was really denigrating a lifetime of work that they had contributed to. >> rose: where is the federal reserve in all of this? >> the federal...
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there aren't enough tax loopholes or tax deductions to pay for romney's tax cut unless you cut into home interest mortgage deductions, unless you get rid of state and local taxes. that will hit the middle class hard. you have to be honest about this. the debate hurt obama and helped romney, and romney's gotten a bump in the polls, although it seems to be flattening out. you look at the new poll in ohio, the president is at 51%, ronl is at 47%. i think the president, the fundamental structure of the race hasn't been changed, but if he doesn't go on the attack, if biden doesn't do a good job against ryan, and if the president doesn't show up and isn't strong in the second debate, then you're going to have a tossup race. >> well, i would disagree with your approach, first of all. i don't approach that way. that's going back and relate gating all the old arguments. in spirit what i would do unlike shrumy, i would take the big issue that is separate the candidates, don't get into the little trench warfare about what's your tax plan and where were you on medicare two weeks ago. i would say whe
there aren't enough tax loopholes or tax deductions to pay for romney's tax cut unless you cut into home interest mortgage deductions, unless you get rid of state and local taxes. that will hit the middle class hard. you have to be honest about this. the debate hurt obama and helped romney, and romney's gotten a bump in the polls, although it seems to be flattening out. you look at the new poll in ohio, the president is at 51%, ronl is at 47%. i think the president, the fundamental structure of...
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they pay more effective tax than governor romney pays in his federal income tax. i've had it up to here with this notion that 47% -- it's about time they take some responsibility here. and instead of signing pledges to grover norquist not to ask the wealthiest among us to contribute to bring back the middle class, they should be signing a pledge saying to the middle class, we're going to level the playing field. >> mitt romney is a good man. he cares about 100% of americans in this country. and with respect to that quote, i think the vice president very well knows that sometimes the words don't come out of your mouth the right way. >> but i always say what i mean. >> some great moments last night. welcome back to "morning joe." a live look at the white house as the sun comes up over washington. mark mckinnon's still with us. and joining us on set, nbc news's tom brokaw and moderator of "meet the press," david gregory. gentlemen, good to have you on board this hour. >> good morning. >> wow! where do we begin? what a great night. >> how about david grinning like a c
they pay more effective tax than governor romney pays in his federal income tax. i've had it up to here with this notion that 47% -- it's about time they take some responsibility here. and instead of signing pledges to grover norquist not to ask the wealthiest among us to contribute to bring back the middle class, they should be signing a pledge saying to the middle class, we're going to level the playing field. >> mitt romney is a good man. he cares about 100% of americans in this...
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ryan's plan is completely tax free, get rid of the capital gains tax, get rid of the gift tax, create dynastic wealth, turn america into 18th century france, and we all know how well that ended. >> david cay, what about the loopholes? middle class americans out there keep hearing that loopholes are going to be closed. what do you think they're talking about? they haven't been specific on that, either. >> no, and that's part of the troubling idea. what they're very specific about is cutting taxes. they won't talk about exactly what are we going to do? and without knowing that, we have absolutely no idea. are they going to stop the use of offshore investing and total deferral of income for private equity managers like mitt romney was when he was the sole owner of bain capital? and could have taken advantage of that? they won't say, so we have no idea. but the big numbers would be in taking away the middle class' 401(k) or other retirement savings plans, health insurance, and the mortgage interest deduction. >> yeah. let's clear up this about social security. play this sound bite, if we
ryan's plan is completely tax free, get rid of the capital gains tax, get rid of the gift tax, create dynastic wealth, turn america into 18th century france, and we all know how well that ended. >> david cay, what about the loopholes? middle class americans out there keep hearing that loopholes are going to be closed. what do you think they're talking about? they haven't been specific on that, either. >> no, and that's part of the troubling idea. what they're very specific about is...
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then he can't deliver tax cuts. >> you can come up with a tax reform plan. increased revenue that takes down the rates, makes it fairer everybody. it's difficult, but you can do it. >> you can't take the rates down 20% though on top of the bush tax cuts. >> romney said, i have reform principles. they are going to help grow the economy and create jobs but the idea he can raise taxes is fanciful. he'll never do it. >> if you are going to cut taxes for the wealthy as much as mitt romney wants to there is no way or he would have put forth the pro growth plan. he's ring on magic like harry potter will be his treasury secretary. >> he's not going to be able to cut taxes for rich people. he doesn't want to. the idea of pro growth taxes -- >> didn't he say 20% across the board? >> he did, but he also said if you take up the deductions, rich people won't get a big tax break. that's the truth. if you go through the principles and think about it, how do you design a pro growth tax policy? you have to take down the race and get rid of deductions. the numbers can add up.
then he can't deliver tax cuts. >> you can come up with a tax reform plan. increased revenue that takes down the rates, makes it fairer everybody. it's difficult, but you can do it. >> you can't take the rates down 20% though on top of the bush tax cuts. >> romney said, i have reform principles. they are going to help grow the economy and create jobs but the idea he can raise taxes is fanciful. he'll never do it. >> if you are going to cut taxes for the wealthy as much...
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there are a number of important tax loopholes if you want to call them that, or tax incentives that will have to be ended. this is not something they're prepared to talk about. politically you have to understand that. they have 27 days left. it's not in anybody's best interest to say we're going to hawk at the most important entitlement that they've had for generations. they're trying to do something that is politically understandable and the democrats will try to hold them to account and fill in those gap where is they have refused to be specific about it. >> michael: thomas, what errol is saying is really true. i can't imagine a homeowner who wants to see that mortgage interest write-off gone. when it's clear that the republicans cannot do this cut without that you heard ryan last night. how do they get away with that? >> i think in the same way they're getting away with all sorts of things. if you look at the paul ryan budget, and i understand that's not what mitt romney is proposing this year, but if you go back and look at--he did put paul ryan on the ticket. he did it for a reason.
there are a number of important tax loopholes if you want to call them that, or tax incentives that will have to be ended. this is not something they're prepared to talk about. politically you have to understand that. they have 27 days left. it's not in anybody's best interest to say we're going to hawk at the most important entitlement that they've had for generations. they're trying to do something that is politically understandable and the democrats will try to hold them to account and fill...
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what's the truth on taxes? >> well, that's one of the essential questions of the cam paint that's what the obama campaign is saying about this. but what the romney/ryan campaign says about the obama plan is they have not done anything to say where the spending would be cut, to say where they're going to be doing things to reduce the deficit, and that's going to fall on middle-class families so it's a question of philosophy here, whether you think there is enough and other things he says he'll do to cut spending in the budget to make up the money that would be lost in revenue from that 20% across the board tax cut or whether you believe that the plan that president obama is saying to say that there should be cut for middle-class taxes, extension for bush tax cuts for those making under $250,000 and not for others and that that money should be used to make up the revenue there. >> lori, there was also a dispute add to whether ryan would have voted for plan that would have raised out-of-pocket cost. take a listen.
what's the truth on taxes? >> well, that's one of the essential questions of the cam paint that's what the obama campaign is saying about this. but what the romney/ryan campaign says about the obama plan is they have not done anything to say where the spending would be cut, to say where they're going to be doing things to reduce the deficit, and that's going to fall on middle-class families so it's a question of philosophy here, whether you think there is enough and other things he says...
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is a poll tax constitutional or unconstitutional? >> poll tax would be. i don't understand -- that's like saying to drive on a road is a poll tax -- you have to get a license to enter a government building there is a poll tax because you have to show a photo i.d. to get government been pits a poll tax because you have to show i.d. to get those benefits. so -- if that's your standard, a, it is against 70% to 80% of -- >> poll tax only deals with when you are going to the polls. poll tax only deals with -- poll tax really only deals when you are going to the polls. >> i know what a poll tax is. >> driving on a road and getting a lines, that's not a poll tax. going into a government build sing not a poll tax. flying on an airplane and showing your passport is not a poll tax. going to vote and having to prove who you are but having to go out and spend money on getting that i.d. or driving positive miles because you don't have an i.d. place in your town and you have to drive this distance to get one, that is a poll tax. that costs you money. >> as far as i'm a
is a poll tax constitutional or unconstitutional? >> poll tax would be. i don't understand -- that's like saying to drive on a road is a poll tax -- you have to get a license to enter a government building there is a poll tax because you have to show a photo i.d. to get government been pits a poll tax because you have to show i.d. to get those benefits. so -- if that's your standard, a, it is against 70% to 80% of -- >> poll tax only deals with when you are going to the polls. poll...
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i'm not in favor of a $5 trillion tax cut. >> analysis from the nonpartisan tax policy center found romney's plan would cost the country $5 trillion over the the next ten years. romney's friends at fox news say romney doesn't have to explain his fuzzy math. here's chris wallace defending romney's flip-flop to governor martin o'malley. >> the president keeps saying that mitt romney is proposing a $5 trillion tax cut. that's not true. >> chris, wait a minute here. former governor is proposing a cut to income taxes including for the wealthiest of americans and i believe a 30% cut to corporate income taxes. >> any economist may debate whether that adds up to $4.9 trillion or $5 trillion. >> you're mischaracterizing the romney plan. you're saying, you're right, $5 trillion by lowering the tax rates, but he also talks about cutting loopholes. that's part of the plan. >> he won't say which loopholes and which deduction. >> joining me is e.j. dionne, author of the new book "our divided political heart." i've got so much heart. you know the details, the devil in the details, however, you want to say
i'm not in favor of a $5 trillion tax cut. >> analysis from the nonpartisan tax policy center found romney's plan would cost the country $5 trillion over the the next ten years. romney's friends at fox news say romney doesn't have to explain his fuzzy math. here's chris wallace defending romney's flip-flop to governor martin o'malley. >> the president keeps saying that mitt romney is proposing a $5 trillion tax cut. that's not true. >> chris, wait a minute here. former...
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massive tax increase. romney cannot defend this plan on its merits, so he simply says i'll negotiate this with congress. it doesn't matter what he negotiates, there's not enough money there. it's a simple matter of arithmetic. but he's being a smooth liar about this. >> is the mathematics policy? can you offset $5 trillion with big deductions by getting rid of them when he said tonight to accomplicer, i'm going to leave the mortgage preference, the charitable preference, what is left? >> first off, you're kind of misquoting what he said. number one, he said it's not a $5 trillion dr. >> 4.8. >> but it is. i don't care what he says, he's lying. it is $5 trillion. >> bob, let me make mire point. >> don't repeat his lie without any evidence. >> i'm not repeating it. the fact you call it a lie, you take that up with him. >> no, he's the one who's lying. >> let me make the point. how does it not -- >> the fact of the matter is he's identified that what he's going to do is limply fill the tax code in a number of
massive tax increase. romney cannot defend this plan on its merits, so he simply says i'll negotiate this with congress. it doesn't matter what he negotiates, there's not enough money there. it's a simple matter of arithmetic. but he's being a smooth liar about this. >> is the mathematics policy? can you offset $5 trillion with big deductions by getting rid of them when he said tonight to accomplicer, i'm going to leave the mortgage preference, the charitable preference, what is left?...
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. >> on taxes. >> you can cut tax rates by 20% and still preserve these important preferences for middle class taxpayers. >> not mathematically possible. >> it is mathematically possible. >> reporter: on medicare -- >> if they allowed medicare to bargain for the cost of drugs like medicaid can, that would save $156 billion right off the bat. >> and it would deny seniors choices. >> reporter: on the president's foreign policy. >> when we look weak our adversaries are much more willing to test us, they're more brazen and our -- >> with all due respect that's a bunch of malarkey. >> reporter: he's preparing to make up for frz's mistakes last week, almost immediately launching the attack lines obama never used in his debate. >> it shouldn't be surprising for a guy who says 47% of the american people are unwilling to take responsibility for their own lives. >> my neighbors, they pay more effective tax than governor romney pays in his income tax. >> reporter: before the debate, cnn was told paul ryan's team anticipated biden to be aggressive where the president was not especially on the infamo
. >> on taxes. >> you can cut tax rates by 20% and still preserve these important preferences for middle class taxpayers. >> not mathematically possible. >> it is mathematically possible. >> reporter: on medicare -- >> if they allowed medicare to bargain for the cost of drugs like medicaid can, that would save $156 billion right off the bat. >> and it would deny seniors choices. >> reporter: on the president's foreign policy. >> when we look...
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rates and lowering tax revenues. he wants to lower the rates for the rich, and for everybody else. but he says, by eliminating loopholes and deductions to which the rich have much more access than anybody else, they will broaden the base and leave the revenue neutral or increase revenue. he says, i will not allow the share of the taxes that the rich are paying to go up. that undoes $100 million worth of obama advertising in 5 minutes. >> sean: you know, it's funny. i said something very similar -- on my radio program. it is amazing because they spent millions of dollars to position mitt romney and create a narrative about mitt romney and a caricature of mitt romney. wants dirty air, dirty water and doesn't care about children with autism or down's synd scprom wants to throw granny over the cliff. romney rendered all of those millions of dollars wasted. there is a side by side and people saw for themselves, a very different person than a caricature that the democrats were painting of him. where does he go from here? h
rates and lowering tax revenues. he wants to lower the rates for the rich, and for everybody else. but he says, by eliminating loopholes and deductions to which the rich have much more access than anybody else, they will broaden the base and leave the revenue neutral or increase revenue. he says, i will not allow the share of the taxes that the rich are paying to go up. that undoes $100 million worth of obama advertising in 5 minutes. >> sean: you know, it's funny. i said something very...
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lower tax rates 20%. we raise about $1.2 trillion through income taxes. we forego about $1.1 trillion in loopholes and deductions. so what we're sayg is s >>et to lower tax rates across the board. here's why i'm saying this. >> i hope i'm getting a timed response. >> you'll get time. >> we want to work with congress on how best to achieve this. that means successful -- >> no specifics, again. >> what we're saying is lower tax rates 20%. start with the wealthy. work with congress. >> can you guarantee this math will add up? >> absolutely. >> six study advisory guaranteed. six study advisory verified this math adds up. >> vice president biden. vice president biden. >> let me translate. let me have a chance to translate. >> i'll come back in a second then, right? >> i was there when ronald reagan -- he gave specifics to what he was going to cut, number one, in terms of tax expenditures. number two, 97% of the small businesses in america pay less than -- make less than $250,000. let me tell you who some of those other small businesses are. hedge funds that ma
lower tax rates 20%. we raise about $1.2 trillion through income taxes. we forego about $1.1 trillion in loopholes and deductions. so what we're sayg is s >>et to lower tax rates across the board. here's why i'm saying this. >> i hope i'm getting a timed response. >> you'll get time. >> we want to work with congress on how best to achieve this. that means successful -- >> no specifics, again. >> what we're saying is lower tax rates 20%. start with the...
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about taxing the wealthy, and he's talking about taxing planes. i own a plane. >> that's you. >> i was like, oh, okay. thanks a lot, president obama. >>> we start the second half of [ female announcer ] the best things in life are the real things. nature valley trail mix bars are made with real ingredients you can see. like whole roasted nuts, chewy granola, and real fruit. nature valley trail mix bars. 100% natural. 100% delicious. a body at rest tends to stay at rest... while a body in motion tends to stay in motion. staying active can actually ease arthritis symptoms. but if you have arthritis, staying active can be difficult. prescription celebrex can help relieve arthritis pain so your body can stay in motion. because just one 200mg celebrex a day can provide 24 hour relief for many with arthritis pain and inflammation. plus, in clinical studies, celebrex is proven to improve daily physical function so moving is easier. celebrex can be taken with or without food. and it's not a narcotic. you and your doctor should balance the benefits with th
about taxing the wealthy, and he's talking about taxing planes. i own a plane. >> that's you. >> i was like, oh, okay. thanks a lot, president obama. >>> we start the second half of [ female announcer ] the best things in life are the real things. nature valley trail mix bars are made with real ingredients you can see. like whole roasted nuts, chewy granola, and real fruit. nature valley trail mix bars. 100% natural. 100% delicious. a body at rest tends to stay at rest......
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about taxing the wealthy, and he's talking about taxing planes. i own a plane. >> that's you. >> i was like, oh, okay. thanks a lot, president obama. r. i just served my mother-in-law your chicken noodle soup but she loved it so much... i told her it was homemade. everyone tells a little white lie now and then. but now she wants my recipe [ clears his throat ] [ softly ] she's right behind me isn't she? [ male announcer ] progresso. you gotta taste this soup. ♪ [ male announcer ] its lightweight construction makes it nimble... ♪ its road gripping performance makes it a cadillac. introducing the all-new cadillac xts. available with advanced all-wheel drive. [ engine revving ] it's bringing the future forward. throughout our lives. one a day men's 50+ is a complete multi-vitamin designed for men's health concerns as we age. it has more of 7 antioxidants to support cell health. one a day men's 50+. turn to senokot-s tablets. senokot-s has a natural vegetable laxative ingredient plus the comfort of a stool softener for gentle, overnight relief of
about taxing the wealthy, and he's talking about taxing planes. i own a plane. >> that's you. >> i was like, oh, okay. thanks a lot, president obama. r. i just served my mother-in-law your chicken noodle soup but she loved it so much... i told her it was homemade. everyone tells a little white lie now and then. but now she wants my recipe [ clears his throat ] [ softly ] she's right behind me isn't she? [ male announcer ] progresso. you gotta taste this soup. ♪ [ male announcer ]...
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rid of the amt, payroll tax, number of tax cut he put on the table. the sum of the tax cuts is $5 trillion. >> bret: he said in the debate? you capped it, set a cap you could reach it. tax policy center which you cite, campaign cites says that you could reach the number that he is talking about -- >> no, it didn't say that. if you could reach the number -- you could add up the deduction and loopholes to $5 trillion if you raise taxes on the middle class. that's what the tax policy center says. that's what a lot of independent economists said. >> bret: actually, no. they said you don't have to -- it could be revenue neutral if you take off certain things off the table. >> you mean if you don't take off the table what mitt romney has taken off the table. he has taken investment income off the table. he is not going to touch those loophole for high-income. because of what romney has taken off the table and the lack of specificity on the deduction it's impossible to do the math. >> bret: my point is that you are down in to what exactly he is going to say
rid of the amt, payroll tax, number of tax cut he put on the table. the sum of the tax cuts is $5 trillion. >> bret: he said in the debate? you capped it, set a cap you could reach it. tax policy center which you cite, campaign cites says that you could reach the number that he is talking about -- >> no, it didn't say that. if you could reach the number -- you could add up the deduction and loopholes to $5 trillion if you raise taxes on the middle class. that's what the tax policy...
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what $5 trillion tax cut? i don't know anything about a $5 trillion tax cut. pay no attention to that tax cut under the carpet behind the curtain. when he's asked how he'll cut the deficit, he says he can make the math work by eliminating local public funding for pbs. now, by the way, this is not new. this is what he's been saying every time he's asked the question. well, we can cut out pbs. so for all you moms and kids out there, don't worry. somebody's finally getting tough on big bird. you know, who knew he was driving our deficit? so we're going after -- he's decided we're going after big bird and elmo's making a run for the border and oscar's hiding out in the trash can and governor romney wants wall street to run wild again but bring down the hammer on sesame street. look, that is not leadership. that's salesmanship. we can't afford it. we can't afford to double down on top down economics. we can't afford another round of tax cuts for the wealthy. we can't afford to roll back regulations on wall street banks or on insurance companies. we can't afford to
what $5 trillion tax cut? i don't know anything about a $5 trillion tax cut. pay no attention to that tax cut under the carpet behind the curtain. when he's asked how he'll cut the deficit, he says he can make the math work by eliminating local public funding for pbs. now, by the way, this is not new. this is what he's been saying every time he's asked the question. well, we can cut out pbs. so for all you moms and kids out there, don't worry. somebody's finally getting tough on big bird. you...
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i don't have a tax cut that's $4.8 trillion. i'm not going to cut taxes on the rich. i don't have a medicare voucher plan. i love teachers. and i think we need more of them. look, don't believe me. speaker gingrich was pretty eloquent running during the primaries and saying, mitt romney will say absolutely anything to get elected. and if somebody says absolutely anything to get elected you have to wonder what they'll say when they are president of the united states. >> so, speaker, you did say he was fundamentally dishonest after debating him in the primaries. this is not a new attack against romney policy. >> no. and i think that the challenge for the obama people is pretty simple. the president of the united states had 90 minutes. now, if he had done his homework and actually prepared, if he had actually studied romney, why didn't he say it? why didn't he take romney head on? first of all, the charges on the tax cuts are plain wrong, and i think virtually every analyst has said and even your deputy campaign manager said the charges made are wrong. but forgetting tha
i don't have a tax cut that's $4.8 trillion. i'm not going to cut taxes on the rich. i don't have a medicare voucher plan. i love teachers. and i think we need more of them. look, don't believe me. speaker gingrich was pretty eloquent running during the primaries and saying, mitt romney will say absolutely anything to get elected. and if somebody says absolutely anything to get elected you have to wonder what they'll say when they are president of the united states. >> so, speaker, you...
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in the last debate, no, he does not plan a tax cut but he says he plans a tax cut -- a 20% tax cut across the board. there are a number of ways -- i've witnessed once when mitt romney once said he was pro gay adoption. and the very next day he said he was staunchly against it. so, to call someone out on their mistruthings and lies, that's not poor sportsmanship. that's like saying someone who entered a race who was doping and you call them on doping, you know, is guilty of poor sportsmanship. the person who is guilty is the person who is cheating. >> yes, indeed. ken, mr. romney tells wolf blitzer that will be a preference, in his words, for home mortgage deduction and charitable contribution, so to make up for the tax cuts, what ducks will go away? have you found them? >> this has been a great challenge of covering the campaign where there isn't -- >> this is a bigger mystery than the loch ness monster, no one can find them. >> that's one thing democrats will press him on. they've tried with a high degree -- to point out that is not -- the math is not working here, that's one of the thin
in the last debate, no, he does not plan a tax cut but he says he plans a tax cut -- a 20% tax cut across the board. there are a number of ways -- i've witnessed once when mitt romney once said he was pro gay adoption. and the very next day he said he was staunchly against it. so, to call someone out on their mistruthings and lies, that's not poor sportsmanship. that's like saying someone who entered a race who was doping and you call them on doping, you know, is guilty of poor sportsmanship....
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they pay more effective tax than governor romney pays in his federal income tax. they are elderly people who are, in fact, living off social security. they're veterans and people fighting in afghanistan right now who are, quote, not paying any taxes. i've had it up to here with with this notion that 47% of -- it's about time they take some responsibility here. instead of signing pledges to grover norquist not to ask the wealthiest among us not to contribute to bring back the middle class, they should be signing a pledge saying to the middle class, we're going to level the playing field. >> that issue of taxes and which side wants to raise them and which side wants to cut them and on whom, that sparked one of the more spirited moments in tonight's debate. >> there aren't enough rich people in small businesses to tax to pay for all their spending. the next time you hear them say, don't ware aboutorry about it, a few people to pay their share, watch out. they're coming for you. you can preserve these important preferences. >> it has never been done before. >> it's be
they pay more effective tax than governor romney pays in his federal income tax. they are elderly people who are, in fact, living off social security. they're veterans and people fighting in afghanistan right now who are, quote, not paying any taxes. i've had it up to here with with this notion that 47% of -- it's about time they take some responsibility here. instead of signing pledges to grover norquist not to ask the wealthiest among us not to contribute to bring back the middle class, they...
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taxes will have to be raised on the middle class if they succeed in their tax cut. folks, it's time to lift the burden off the middle class, not double-down on the great recession that hit them. >> that's the vice president at his first campaign event since last night's debate. there was another, let's just say intense debate going on last night but it waend biden/ryan. it was a bitter congressional race in california and it took a bizarre turn when both candidates nearly got into a fi physical fight right in front of the voters. let's take a look at this. >> that by the way with howard berman and brad sherman, two democrats in that new california system. they're running against each other in the general election for one seat in a merged district. >> crazy. >> another example of why americans are increasingly frustrated by the way our political system works or didn't work in some cases. our next guest says there's a silver lining, though, we just have to look back a century or so to find. he's the author of "the 100 greatest americans of the 0th century," a social j
taxes will have to be raised on the middle class if they succeed in their tax cut. folks, it's time to lift the burden off the middle class, not double-down on the great recession that hit them. >> that's the vice president at his first campaign event since last night's debate. there was another, let's just say intense debate going on last night but it waend biden/ryan. it was a bitter congressional race in california and it took a bizarre turn when both candidates nearly got into a fi...
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they're trying to draw attention to a 1954 tax code that prohibits tax-exempt organizations like churches from engaging in political endorsements a group known as the i ay lines defending freedom is now challenging the code claiming it violates preacher's right for free speech. >> they've marched october 7 as pulpit freedom sunday. >> yes, pulpit freedom sunday. when the thrill of lengthy sermons finally meets the excitement of tax policy. pulpit freedom sunday is the boldest theological movement since casual good friday. this sunday, october 7 pastors around the united states will violate the law by directly endorsing one of the candidates. it doesn't matter which, either romney or not-obama. (laughter) and to try to force this issue into court the sermons will be recorded and sent to the i.r.s. folks, i like this new rebel attitude from the pulpit. maybe someday we'll turn on fox news and see a high-speed popemobile chase. (laughter) pastor jim garlow, one of the leaders behind freedom sunday says it's all about principle. >> we believe there should be no governmental intrusion in the p
they're trying to draw attention to a 1954 tax code that prohibits tax-exempt organizations like churches from engaging in political endorsements a group known as the i ay lines defending freedom is now challenging the code claiming it violates preacher's right for free speech. >> they've marched october 7 as pulpit freedom sunday. >> yes, pulpit freedom sunday. when the thrill of lengthy sermons finally meets the excitement of tax policy. pulpit freedom sunday is the boldest...
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here's the tax plan. fairer, flatter, simpler. more competitive tax code. broaden the base getting rid a lot of special interest deductions, a third of the tax code is known as tax expenditur. >> why couldn't paul ryan explain that 11 days ago? >> well, my guess is he could if he had had time but we did this in '03. it was done in the reagan administration. it was done under jfk. guess what? when you follow this recipe you get more jobs, more economic growth and more tax revenue that helps fight the deficit and that's in contrast to what the president is offering us which is another tax increase on small business, almost a million small businesses and costing 700,000 jobs and it's a real choice election coming the economy. not to mention the debt, not to mention foreign policy. >> okay. so congressman, let's just say on point with your guy. one thing we know is that romney and ryan say they'll reduce inco board, 20%. we have this graphic. you know, if you look at recent history, the reagan tax cuts, both coincided with massive growth of the national debt. t
here's the tax plan. fairer, flatter, simpler. more competitive tax code. broaden the base getting rid a lot of special interest deductions, a third of the tax code is known as tax expenditur. >> why couldn't paul ryan explain that 11 days ago? >> well, my guess is he could if he had had time but we did this in '03. it was done in the reagan administration. it was done under jfk. guess what? when you follow this recipe you get more jobs, more economic growth and more tax revenue...
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the middle class tax cut unless you give the tax cut to the super wealthy. it's time they take responsibility. >> do you know what the unemployment rate in scranton is today? >> i sure do. >> 10%. when you came into office it was 8.5% this, is going like this around america. >> that is not how goitsing. >> they talk about the great recession like it fell out of the sky. it came from this man voting to put two wars on a credit card at the same time put a prescription drug benefit on a credit card. a trillion dollar tax cut for very wealthy. >> you're going to cut tax rates and preserve for middle class taxpayer. >> it's not mathematically possible. >> it's been done a couple times. >> never been done. >> ronald reagan. >> middle class got knock ond their heels. the great recession crushed them. they need help now. >> next time you hear them say don't worry about it, we'll get wealthy people to pay their fair share. watch out, middle class, the tax bill is coming to you. >> greta: right now gets go to jamesville, wisconsin. his father and -- family and friends
the middle class tax cut unless you give the tax cut to the super wealthy. it's time they take responsibility. >> do you know what the unemployment rate in scranton is today? >> i sure do. >> 10%. when you came into office it was 8.5% this, is going like this around america. >> that is not how goitsing. >> they talk about the great recession like it fell out of the sky. it came from this man voting to put two wars on a credit card at the same time put a...
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and other taxes and at an effective rate higher than romney pays his taxes. over 10% of them are senior citizens on social security. the rest are disabled vets and veterans and military personnel fighting now. that's the 47%. the 47%, this nation depends on to build this country. folks, it's about time governor romney takes some responsibility. [ cheers and applause ] take some responsibility to help the american people, the middle class. instead of lining up to sign a pledge to a guy named grover in order kwis. >> ezra, i have to say for me one of my favorite moments in the debate was with him pointing out the effective rate romney pays compared to what other people in the real world pay. i'm not sure how many people jumped on that a as their favorite moment but. >> you and me, lawrence. >> but biden is finding more effective ways of isolating that romney tax return 14% number. >> it wasn't just that. biden i thought actually figured out what obama didn't figure out a week before which is how to deal with the ryan/romney ticket on taxes, medicare and social
and other taxes and at an effective rate higher than romney pays his taxes. over 10% of them are senior citizens on social security. the rest are disabled vets and veterans and military personnel fighting now. that's the 47%. the 47%, this nation depends on to build this country. folks, it's about time governor romney takes some responsibility. [ cheers and applause ] take some responsibility to help the american people, the middle class. instead of lining up to sign a pledge to a guy named...
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. >> at the debate he said he's not going to cut taxes for the wealthy. in the primary he said he's going to cut taxes for everyone. >> i'm going to lower rates across the board for all americans. isn't that a change? >> let me repeat what i said. >> lying, denying and alibiing. >> is that leadership? >> we can't debate the debate. >> the war continues. >> let's move on. >> we are awaiting a major foreign policy address. >> romney boiled down the president's foreign policy to one of hope. >> hope is not a strategy. >> but on actual foreign policy romney's specifics were rather thin. >> i'll support the libyan's people efforts to support a lasting government. >> how about iran? >> prevent them from acquiring nuclear weapons capability. >> that's the same. >> this is the same guy who couldn't even go to the olympics. >> he will say anything, he will do anything. >> his mention of russia. >> without question of number one geo political foe. >> there are two kinds of success, initial and ultimate. >> i still believe you in and i hope you still believe in me.
. >> at the debate he said he's not going to cut taxes for the wealthy. in the primary he said he's going to cut taxes for everyone. >> i'm going to lower rates across the board for all americans. isn't that a change? >> let me repeat what i said. >> lying, denying and alibiing. >> is that leadership? >> we can't debate the debate. >> the war continues. >> let's move on. >> we are awaiting a major foreign policy address. >> romney...
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all right, by consult taxes on the incomes. but, plug up the luxury boxes, the expensive meals, and all of that. >> i don't know of any place in the record where cutting taxes worked as a stimulus to the economy. >> bill: bush? it worked after 9/11. we went to a recession as you remember. because of that they cut taxes, we got out of recession. and then the highest government revenues of all time under w. >> really? >> bill: yeah. >> i have to go back and read. >> bill: you watch the factor you will know. >> okay. >> bill: grace, the play. >> yeah. >> bill: you haven't been on broadway for 30 years. >> 23. >> bill: why did you come back? >> to shake up the bottle. to show people east coast that i was a better actor than ever. >> bill: you are a really good actor, you know that, right? >> i know that. >> bill: that's god-given isn't it? >> if you believe in god, yeah. >> bill: do you? >> my jury is still out. >> bill: you are a socialist, you are atheist, too. you. >> i didn't say atheist i said ago not stick. >> bill: when you
all right, by consult taxes on the incomes. but, plug up the luxury boxes, the expensive meals, and all of that. >> i don't know of any place in the record where cutting taxes worked as a stimulus to the economy. >> bill: bush? it worked after 9/11. we went to a recession as you remember. because of that they cut taxes, we got out of recession. and then the highest government revenues of all time under w. >> really? >> bill: yeah. >> i have to go back and read....
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more tax breaks for the rich. and then they want to make massive cuts in social security medicare medicaid and virtually every other family needs. that's the plan. third point they would make sever poll that i have seen suggests that that is exactly what the american people don't want. the american people have been very clear. when the top 1% owns 42% of the wealth in america, you know what you have got to start asking those guys to start paying their fair share of taxes. when the middle class is disappearing, you can't cut social security -- and by the way, the so-called chain cpi, one way to cut social security would not only hit the elderly and disabled it would also hit disabled veterans. you don't make massive cuts in medicaid or medicare so i think this issue is very very clear. which side are we on? are we going to protect the wealthiest people in this country, the largest corporations eliot, one fourth of profitable corporations pay nothing in taxes. we are losing about $100 billion a year because the weal
more tax breaks for the rich. and then they want to make massive cuts in social security medicare medicaid and virtually every other family needs. that's the plan. third point they would make sever poll that i have seen suggests that that is exactly what the american people don't want. the american people have been very clear. when the top 1% owns 42% of the wealth in america, you know what you have got to start asking those guys to start paying their fair share of taxes. when the middle class...
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he said by giving to money by charity it's i tax myself. >> it's a self tax. it's better than having the government spend money because the government is not as smart as the super rich which spend money the way they want which is better for all of us. >> stephen: we may not need roads or schools but we need the ballet. >> you might not need air traffic controllers because you might have a private jet. >> stephen: i do have i -- i have a private jet. >> there you go. >> stephen: what upset me most is i'm not one of the super rich. >> how much do you make? >> stephen:ly not tell you. the super rich we're talking about is the .001% and higher. >> and up. >> stephen: the 1%eves like me are the 99% compared to those people. >> exact it will right. >> stephen: should i be occupying them? i bet it's a lovely place to occupy. [cheers and applause] >> here is the thing and this is the new thing about the super rich, they are global. and in the 20th century the american superrich needed the american middle class to have enough money to buy the stuff the super rich were
he said by giving to money by charity it's i tax myself. >> it's a self tax. it's better than having the government spend money because the government is not as smart as the super rich which spend money the way they want which is better for all of us. >> stephen: we may not need roads or schools but we need the ballet. >> you might not need air traffic controllers because you might have a private jet. >> stephen: i do have i -- i have a private jet. >> there you...
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and let's abolish the irs and eliminate income tax and corporate tax. we'll reboot the american economy tens of millions of jobs get created in a zero corporate tax rates environment. >> jill, starting with you, if you can stick to a minute, how would you fix the struggling economy? >> well, we think this doesn't need to be guesswork. we have experience creating jobs in the worst economy the country has ever known during the great depressi depression. we created jobs by directly creating them, not by providing tax breaks for the wealthy or not by ending a tax system entirely which would basically turn the country over to the despair, the unemployment, you know, the problems that we have. we need government to step in where the private sector is unwilling and to see create jobs. >> same question -- unwilling and unable to create jobs. >> same question, gary, in one minute if you can do it. >> first we have to balance the federal budget. if we don't do, that we'll find ourselves in a monetary collapse, in a monetary collapse, simply, when the dollars we h
and let's abolish the irs and eliminate income tax and corporate tax. we'll reboot the american economy tens of millions of jobs get created in a zero corporate tax rates environment. >> jill, starting with you, if you can stick to a minute, how would you fix the struggling economy? >> well, we think this doesn't need to be guesswork. we have experience creating jobs in the worst economy the country has ever known during the great depressi depression. we created jobs by directly...
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Oct 7, 2012
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there's a 20% rate reduction from the bush tax cuts, we're going to end the estate tax. we're going to cut the corporate tax rate from 35% to 25%. you cannot sit here, mr. speaker or anybody can sit here and say that doesn't require a reduction in the amount of revenue by $4.8 trillion. >> i'll say it i'll say it. >> moderates, levels, everybody says here's the problem, you guys won't give them any credit for closing loopholes. he won't name the loopholes, you're attacking him for not giving you the target and you tack him when you get the target. >> and it's like admitting that the substance doesn't match up. >> if there's substance, why do, you keep bringing up substance. let me hear some obama substance. your substance is always to attack romney. >> if he had a couple of sharp ideas and looked like he liked the job, he would have had a much better debate. >> mitt romney said my health care plan will do the same thing. >> it doesn't seem to me that it's as binary as this, mr. speaker. think there's an issue of whether something has to give. can you talk about fact chec
there's a 20% rate reduction from the bush tax cuts, we're going to end the estate tax. we're going to cut the corporate tax rate from 35% to 25%. you cannot sit here, mr. speaker or anybody can sit here and say that doesn't require a reduction in the amount of revenue by $4.8 trillion. >> i'll say it i'll say it. >> moderates, levels, everybody says here's the problem, you guys won't give them any credit for closing loopholes. he won't name the loopholes, you're attacking him for...
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Oct 10, 2012
10/12
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. >> these are people who pay no income tax. 47% of people pay no income tax. so our message of low taxes doesn't connect. he'll be out there talking for tax cuts of the rich. so my job is not to worry about those people. i'll never convince them that they should take personal responsibility and care for their lives. >> so my job is not to worry about those people. i'll never convince them that they should take personal responsibility and care for their lives. krystal ball, i don't know. that sounds to me like it's a description of how he would be as president. so my job is not to worry about those people? >> well, he may have contempt for you, but that doesn't mean he's going to act like he has contempt for you when he's president. obviously, when he was in that particular room, he was telling the people in that room that that's exactly who he would be as president. and i think what we see from mitt romney is who he is and what he says is all dependent on the expediencies of the moment. if we had a president romney, he would mostly be held hostage by a republi
. >> these are people who pay no income tax. 47% of people pay no income tax. so our message of low taxes doesn't connect. he'll be out there talking for tax cuts of the rich. so my job is not to worry about those people. i'll never convince them that they should take personal responsibility and care for their lives. >> so my job is not to worry about those people. i'll never convince them that they should take personal responsibility and care for their lives. krystal ball, i don't...
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Oct 7, 2012
10/12
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he said 30% tax cuts on corporate taxes and he has a series of other tax cuts he's promised that add up to $4.8 trillion. he cannot name one loophole that he would close. if you took away all the loopholes for upper-income americans, every single one of them, he would still be trillions of dollarss short. me has to sock it to the middle class or explode the deficit. > deficit. >> reporter: what you're saying it it is unrealistic-- >> i'm saying it's impossible, not unrealistic. >> when president obama said in 2008 i'm going to cut the deficit in half, i'm going to close guilt me, people-- gitmo, people said-- did not sigh he was not telling the truth. >> closing gitmo involved congress and he couldn't get them to do that. the math, people over $200,000, and you still have a trillions of dollars hole, and he hasn't named the deductions he would close. this is a shell game, john. whichever shell you pick up, the middle class loses. the economy will lose, and i think that this is going to catch up with him. >> schieffer: what did the president think of his performance? >> i think the pr
he said 30% tax cuts on corporate taxes and he has a series of other tax cuts he's promised that add up to $4.8 trillion. he cannot name one loophole that he would close. if you took away all the loopholes for upper-income americans, every single one of them, he would still be trillions of dollarss short. me has to sock it to the middle class or explode the deficit. > deficit. >> reporter: what you're saying it it is unrealistic-- >> i'm saying it's impossible, not unrealistic....
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Oct 10, 2012
10/12
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CURRENT
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tax the rich, tax the rich. look you're allowed to be rich. of course you want to build the largest house. somebody has got to have the largest house. that is not the issue. the issue is this guy then turns around and says this. if any new taxes are levied on me or my company as our current president plans i will have no choice but to reduce the size of this company. that is an obvious threat to his employees you better vote for romney or i'm going to fire you. it appears do you have another choice. perhaps you could reduce the size of your house. but oh no, no, no, you better not tax me another cent otherwise i'll fire all my workers. which would be a great brilliant business strategy. how would you run a company without workers. then your lazy ass would have to get up off the throne and do some work. in florida in 2000 he did this trick which he admits might have been illegal where he asked all of his workers, 8,000 workers in florida, hey, are you for the republicans or democrats. if they said democrats, then they do anything with them. if
tax the rich, tax the rich. look you're allowed to be rich. of course you want to build the largest house. somebody has got to have the largest house. that is not the issue. the issue is this guy then turns around and says this. if any new taxes are levied on me or my company as our current president plans i will have no choice but to reduce the size of this company. that is an obvious threat to his employees you better vote for romney or i'm going to fire you. it appears do you have another...
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Oct 10, 2012
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vo: why won't romney level with us about his tax plan, which gives the wealthy huge new tax breaks? because according to experts, he'd have to raise taxes on the middle class - or increase the deficit to pay for it. if we can't trust him here... how could we ever trust him here? >>> i'm wolf blitzer. here's a look at what's ahead in the next couple of hours. we're learning new details on what the vice president joe biden is doing to prepare for tomorrow night's debate. also, our john king is focusing in on a key group of ohio voters who could decide the election. and forg funding big bird. what about joe biden's favorite ride? we're talking amtrak. we'll explain. stand by. you're in "the situation room." >>> with just 27 days to go until the election, democrats say mitt romney is running to the political center as fast as he can. among other things, they're pointing to romney's comments today about abortion. here's a quick snapshot. >> mitt romney said "there's no legislation with regards to abortion that i'm familiar with that would become part of my agenda." and that statement doe
vo: why won't romney level with us about his tax plan, which gives the wealthy huge new tax breaks? because according to experts, he'd have to raise taxes on the middle class - or increase the deficit to pay for it. if we can't trust him here... how could we ever trust him here? >>> i'm wolf blitzer. here's a look at what's ahead in the next couple of hours. we're learning new details on what the vice president joe biden is doing to prepare for tomorrow night's debate. also, our john...
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Oct 11, 2012
10/12
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and the bottom 20% earned only 3.4% of the taxes and paid 2.1% of the taxes. in the end it all evens out. people pay the same percentage of the taxes as they earned of the income. sound pretty darn fair to me, david. no redistribution there. just carrying one's fair share. yet david said he's so frustrated his motivation to work may be destroyed all together because of the current system. he blamed it all on a system that penalizes the productive and gives to the unproductive. but again he is wrong. government has to take from all for the good of all. including for the good of mr. siegel. just one example. westgate's property at the smoky mountain resort and spa in gatlinberg tennessee people go there and pay there siegel a whole lot of money to appreciate the beauty of the great smoky mountains. the first national park in which the federal government spent its own money to wyland. no national park, no resort that people would pay for. you wouldn't want to build a resort there without reliable public and fire system or the road to get there or the system to gi
and the bottom 20% earned only 3.4% of the taxes and paid 2.1% of the taxes. in the end it all evens out. people pay the same percentage of the taxes as they earned of the income. sound pretty darn fair to me, david. no redistribution there. just carrying one's fair share. yet david said he's so frustrated his motivation to work may be destroyed all together because of the current system. he blamed it all on a system that penalizes the productive and gives to the unproductive. but again he is...